Monzo Brings Its Banking App to Spain
Hey Digital Banking Fanatic!
Monzo is going continental. Its first stop? Spain.
After launching in Ireland earlier this year, the UK digital bank has now officially opened its doors to Spain, making this its first move into continental Europe.
Spanish customers can now open personal, joint, under-18 and business accounts, as well as instant-access savings accounts, all through the Monzo app. They’ll also get Spanish IBANs and integration with Bizum, the local payment service.
That local setup matters. Monzo isn’t just bringing its UK app to a new country and hoping people will use it. It’s adapting the product to fit how people in Spain already bank and send money.
Monzo’s research found that nearly six in ten Spaniards have faced unexpected banking fees, so there’s no shortage of banking frustrations to address.
Monzo already has 16 million customers in the UK. Now let’s see how it gets on in Spain.
In the meantime, here’s what else is happening in digital banking today👇
See you tomorrow!
Cheers,
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